Protesting students and bank workers, capital control, still closed banks and last but not least politicians who are not really sure what to say. These are the latest news from Cyprus. So lets see them one by one.
Yesterday thousands of student left their classrooms to let the world see and hear what they are thinking. They said, they feel betrayed, like their future has been stolen from them. And I have got to say I agree, the only problem is that their generation is not the only one who lost their future. News were reporting about the horrible teachers who dragged poor children on the streets. Of course the reporters forget, that these "children" may be young, but that doesn`t mean they don`t have their own opinions. These students already have made up their own minds, there is no teacher who can drag them on the streets, if they dont want to go!! They are not entitled to vote yet, but they are not far from it by high school and since this is the time they all have to figure out what they want to do with their lives, of course they are entitled to be angry and say or try to do something about it, if they see the world going in the wrong direction. I think its marvelous that there are young people who are willing to stand up for what they believe in. They still have fire in them, not like the other generations. I do believe that the world should not go on like this, that they are slowly and very painfully killing is, whit this created crisis, and although there are strikes and protest I feel like nobody is really doing anything, and nothing is changing for the better. Because most people are afraid of the unknown, they are afraid if they dont obey the demands of the troika, than it will be worst then now. But when I see all these young adults on the streets, I have hope again. Throwout history is shows, that younger people have more fire in them, more want and need for changing things. I believe that my generation is the one that should do something, should change something so that the one generation younger then us, these high school students will have a future. But my generation seems to be waiting, for what I dont know?! Sometimes when I see people close to my age and they just shake their heads, and sigh like I am crazy for thinking this things, I am so disappointed and my heart just aches with this unbearable pain. I just want to grab them and shake them up from this ignorance they are living in, they are like the ostrich that puts its head in the sand when danger comes, as the old saying goes. I see, just like those high school students our future slipping away from our hands like sand or water, and I feel the longer we wait the harder it will be to change things. Whenever there is a salary cut, and people go on the street to protest, they try to say something, they try to say we dont want this, but then after a couple of days, nothing changes and people just give up and go back to work, like this nothing will ever change. We can look at those students and take example of them, and be proud of them, that they said something. We should all truly think about that if these students, who care more about about trend, and dating, and parties, and smartphones, if they are on the streets saying something is wrong, then the rest of us are doing something very badly. We, all of us who are older then them, are responsible for them. We have to make sure that their biggest problems are choosing what they want to study after high school and figuring out what they wanna be when they grow up.
But students were not the only ones protesting yesterday. Also bank workers were protesting yesterday, and not just from Laiki. Which at first it might seem a little strange that from the two bigger banks (Bank of Cyorus and Laiki) they are eventually going to close down Laiki, then why the workers of Bank of Cyprus are protesting? Of course one reason could be because of sympathy, since they are all bank workers. But there is an other reason, which they are trying to hide and no major news or newspapers talk about. They said they are going to divide the assets of Laiki into good and bad. Which means then the good assets will go to the Bank of Cyrus, and the bad assets would just stay in Laiki, bankrupting it. But with the good assets they are also transferring a 9 billion euro ELA loan. What is ELA? ELA translates to Emergency Liquidity Assistance. Which is like a big loan shark to make it easy to understand. Practically when a bank feels short of cash and there is no one else who would give money to this bank, because they feel its too high risk and the bank may not be able to pay it back, but they fear it would have to big of an impact on the countries economy they turn to loan-sharks, just like deperate people take up usury loan. Of course just like in small, in big also they come with very high interest rates, and if there is no one else who would lend to a bank like this, then this bank is in big trouble, so desperation drives them their. You can say, its like one last thing to try before be go down under. So the workers of Bank of Cyprus fear that the bank may not be able to handle this debt (not good asset) being transferred to their bank, and they fear it might eventually collapse under its weight. Which would mean, that their bank will end up like Laiki, bankrupt and they will end up like the Laiki bank workers, unemployed. Now we can all understand, why they are protesting.
Capital control?! By now the politicians realized, they screwed up, big time. They know, that if they just reopen the banks, people will take their money out, and might cause damage that after this the politicians wont be able to fix. So they try by force (well not with a gun, but almost) to keep people from bankrupting their banks. I wonder, who gave the right to any politician to control what people do with their money? Or to be more accurate: Who the hell do you think you are to tell me what to do with the money I worked for? Politicians seem to forget how sensitive people are about this issue. They think with capital control they can make people do what they want. Well in my dictionary, when a government uses force to reach its goals, we dont call that a democracy. Even if that force is not guns and soldiers. Where I come from, we call this a soft dictatorship. They think if everyone of them repeats it every day, that there is no problem, people didn't loose their trust in the banks, that nobody wants to take their money out, then it will come true or that like this they can brainwash people and reach a herd affect? Meaning, ah if nobody takes their money out, I wont either? Do they truly think that's how stupid people are?! Or if they think if they say it enough times it will come true, well let me tell you know: it wont. But lets see, what they are trying to do. So, there will be weekly withdraw limit, there will be no cashing cheques, fixed term deposits would have to mature before they can be withdrawn and even then you will not be allowed to withdraw it all at once, there might be control over debit and credit cards uses between banks and control on taking money out of Cyprus. And who know with they will come up before the banks reopen. Of course yet, we dont know what the limits will be, since these they haven't made public yet, and I am pretty sure they wont until the last minute, because it will anger people.
Although I have already mentioned above politicians saying things. There is one in particular that I would like to give some attention to. J. Dijsselbloem (Dutch financial minister and president of the euro group) said yesterday: "Currently there are no apparent signs of a higher-than-normal withdrawal of savings or of transfer of savings from peripheral to core countries." Wow, somebody should really shut this guy up! First he made the mistake saying what happens in Cyprus is a template to use for other countries, then of course he said no, no, I was wrong, It`s not a template, Cyprus is special. And since then every major politician alive is trying to say the same thing. So Cyprus, feel good about yourself, you might be in big trouble, but they think you are special! That will save you... And now he said this above mentioned little jewel yesterday. Just to explain... Dear Mr. Dijsselbloem, if the banks are closed of course there is no run on the savings, especially with the cash withdrawal limit, what you expect that people will take their money a 100 euro per day (which lots of them do)? No, they are waiting for the banks to open, so they can take their money out. But by then there will be capital control implemented, so still it will look like people are not running to the banks to take their money out. I mean, seriously (!) people like this are leading our lives and making decisions about our future! Really there must be something really wrong in this guys head! He shouldn't be allowed to talk, ever....Its like when you watch a movie, and it looks like the actors are flying in space, they are not (!) they are hung from strings in front of a green box! It looks like something, but its something totally different!
Well, today is a new day and its a new chance for the politicians to screw something up. Lets see how it goes. We might find out the capital control limits, or we might hear they are not ready to open the banks tomorrow, and its already Thursday, then its Friday so you know, its only two more days, we will open them on Monday. Anything can happen, we will see.
Until next time, thank you for reading and please comment:-)
Yesterday thousands of student left their classrooms to let the world see and hear what they are thinking. They said, they feel betrayed, like their future has been stolen from them. And I have got to say I agree, the only problem is that their generation is not the only one who lost their future. News were reporting about the horrible teachers who dragged poor children on the streets. Of course the reporters forget, that these "children" may be young, but that doesn`t mean they don`t have their own opinions. These students already have made up their own minds, there is no teacher who can drag them on the streets, if they dont want to go!! They are not entitled to vote yet, but they are not far from it by high school and since this is the time they all have to figure out what they want to do with their lives, of course they are entitled to be angry and say or try to do something about it, if they see the world going in the wrong direction. I think its marvelous that there are young people who are willing to stand up for what they believe in. They still have fire in them, not like the other generations. I do believe that the world should not go on like this, that they are slowly and very painfully killing is, whit this created crisis, and although there are strikes and protest I feel like nobody is really doing anything, and nothing is changing for the better. Because most people are afraid of the unknown, they are afraid if they dont obey the demands of the troika, than it will be worst then now. But when I see all these young adults on the streets, I have hope again. Throwout history is shows, that younger people have more fire in them, more want and need for changing things. I believe that my generation is the one that should do something, should change something so that the one generation younger then us, these high school students will have a future. But my generation seems to be waiting, for what I dont know?! Sometimes when I see people close to my age and they just shake their heads, and sigh like I am crazy for thinking this things, I am so disappointed and my heart just aches with this unbearable pain. I just want to grab them and shake them up from this ignorance they are living in, they are like the ostrich that puts its head in the sand when danger comes, as the old saying goes. I see, just like those high school students our future slipping away from our hands like sand or water, and I feel the longer we wait the harder it will be to change things. Whenever there is a salary cut, and people go on the street to protest, they try to say something, they try to say we dont want this, but then after a couple of days, nothing changes and people just give up and go back to work, like this nothing will ever change. We can look at those students and take example of them, and be proud of them, that they said something. We should all truly think about that if these students, who care more about about trend, and dating, and parties, and smartphones, if they are on the streets saying something is wrong, then the rest of us are doing something very badly. We, all of us who are older then them, are responsible for them. We have to make sure that their biggest problems are choosing what they want to study after high school and figuring out what they wanna be when they grow up.
But students were not the only ones protesting yesterday. Also bank workers were protesting yesterday, and not just from Laiki. Which at first it might seem a little strange that from the two bigger banks (Bank of Cyorus and Laiki) they are eventually going to close down Laiki, then why the workers of Bank of Cyprus are protesting? Of course one reason could be because of sympathy, since they are all bank workers. But there is an other reason, which they are trying to hide and no major news or newspapers talk about. They said they are going to divide the assets of Laiki into good and bad. Which means then the good assets will go to the Bank of Cyrus, and the bad assets would just stay in Laiki, bankrupting it. But with the good assets they are also transferring a 9 billion euro ELA loan. What is ELA? ELA translates to Emergency Liquidity Assistance. Which is like a big loan shark to make it easy to understand. Practically when a bank feels short of cash and there is no one else who would give money to this bank, because they feel its too high risk and the bank may not be able to pay it back, but they fear it would have to big of an impact on the countries economy they turn to loan-sharks, just like deperate people take up usury loan. Of course just like in small, in big also they come with very high interest rates, and if there is no one else who would lend to a bank like this, then this bank is in big trouble, so desperation drives them their. You can say, its like one last thing to try before be go down under. So the workers of Bank of Cyprus fear that the bank may not be able to handle this debt (not good asset) being transferred to their bank, and they fear it might eventually collapse under its weight. Which would mean, that their bank will end up like Laiki, bankrupt and they will end up like the Laiki bank workers, unemployed. Now we can all understand, why they are protesting.
Capital control?! By now the politicians realized, they screwed up, big time. They know, that if they just reopen the banks, people will take their money out, and might cause damage that after this the politicians wont be able to fix. So they try by force (well not with a gun, but almost) to keep people from bankrupting their banks. I wonder, who gave the right to any politician to control what people do with their money? Or to be more accurate: Who the hell do you think you are to tell me what to do with the money I worked for? Politicians seem to forget how sensitive people are about this issue. They think with capital control they can make people do what they want. Well in my dictionary, when a government uses force to reach its goals, we dont call that a democracy. Even if that force is not guns and soldiers. Where I come from, we call this a soft dictatorship. They think if everyone of them repeats it every day, that there is no problem, people didn't loose their trust in the banks, that nobody wants to take their money out, then it will come true or that like this they can brainwash people and reach a herd affect? Meaning, ah if nobody takes their money out, I wont either? Do they truly think that's how stupid people are?! Or if they think if they say it enough times it will come true, well let me tell you know: it wont. But lets see, what they are trying to do. So, there will be weekly withdraw limit, there will be no cashing cheques, fixed term deposits would have to mature before they can be withdrawn and even then you will not be allowed to withdraw it all at once, there might be control over debit and credit cards uses between banks and control on taking money out of Cyprus. And who know with they will come up before the banks reopen. Of course yet, we dont know what the limits will be, since these they haven't made public yet, and I am pretty sure they wont until the last minute, because it will anger people.
Although I have already mentioned above politicians saying things. There is one in particular that I would like to give some attention to. J. Dijsselbloem (Dutch financial minister and president of the euro group) said yesterday: "Currently there are no apparent signs of a higher-than-normal withdrawal of savings or of transfer of savings from peripheral to core countries." Wow, somebody should really shut this guy up! First he made the mistake saying what happens in Cyprus is a template to use for other countries, then of course he said no, no, I was wrong, It`s not a template, Cyprus is special. And since then every major politician alive is trying to say the same thing. So Cyprus, feel good about yourself, you might be in big trouble, but they think you are special! That will save you... And now he said this above mentioned little jewel yesterday. Just to explain... Dear Mr. Dijsselbloem, if the banks are closed of course there is no run on the savings, especially with the cash withdrawal limit, what you expect that people will take their money a 100 euro per day (which lots of them do)? No, they are waiting for the banks to open, so they can take their money out. But by then there will be capital control implemented, so still it will look like people are not running to the banks to take their money out. I mean, seriously (!) people like this are leading our lives and making decisions about our future! Really there must be something really wrong in this guys head! He shouldn't be allowed to talk, ever....Its like when you watch a movie, and it looks like the actors are flying in space, they are not (!) they are hung from strings in front of a green box! It looks like something, but its something totally different!
Well, today is a new day and its a new chance for the politicians to screw something up. Lets see how it goes. We might find out the capital control limits, or we might hear they are not ready to open the banks tomorrow, and its already Thursday, then its Friday so you know, its only two more days, we will open them on Monday. Anything can happen, we will see.
Until next time, thank you for reading and please comment:-)
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